Crypto Today: Stablecoin Tax Break, BTC Outlook, Gold Debate
U.S. lawmakers unveiled a discussion draft to exempt certain small stablecoin payments from capital gains taxes and introduce a deferral option for staking and mining rewards, while market analysts said crypto sentiment has not yet reached capitulation levels and a Bitcoin commentator cautioned against rotating into gold despite its record price.
US lawmakers propose tax break for small stablecoin payments, staking rewards
Representatives Max Miller of Ohio and Steven Horsford of Nevada introduced a discussion draft to amend the Internal Revenue Code to accommodate the use of digital assets in payments. The plan seeks “to eliminate low-value gain recognition arising from routine consumer payment use of regulated payment stablecoins,” according to the draft.
Under the proposal, users would not need to recognize gains or losses on stablecoin transactions of up to $200, provided the asset is issued by a permitted issuer under the GENIUS Act, is pegged to the US dollar, and maintains a narrow trading band around $1.
The draft includes safeguards to limit misuse. The exemption would not apply if a stablecoin trades outside the specified price band, and brokers or dealers would be excluded from the provision. The Treasury Department would retain authority to promulgate anti-abuse rules and impose reporting requirements.
Draft bill explains the reasoning behind tax breaks. Source: House
Santiment: Market fear remains insufficient to mark a bottom
Crypto traders have not yet displayed the level of fear on social platforms typically associated with a market bottom, according to Santiment founder Maksim Balashevich, who indicated Bitcoin could still decline toward approximately $75,000.
“It looks very tempting to come even closer to it,” Balashevich said in a video published to YouTube on Friday.
A move to that level would represent an approximate 14.77% drop from Bitcoin’s current price of $88,350, according to CoinMarketCap. Balashevich cited persistent optimism that the recent downtrend will reverse quickly, which he said is uncommon when a durable bottom is forming.
Analyst urges BTC holders not to sell for gold
Bitcoin (BTC) remains a superior long-term store of value compared with gold, according to educator and market analyst Matthew Kratter, who warned investors against selling BTC to chase gold as it trades at all-time highs above $4,300 per ounce.
Kratter noted BTC’s fixed maximum supply of 21 million coins, its portability, divisibility down to nine decimal places, and ease of verification as advantages over gold. He said: “Gold supplies have increased somewhere between 1-2% annually for decades, if not for centuries. Now, this may not seem like a lot, but it leads inevitably to gold supplies doubling every 47 years.”
Bitcoin’s price performance, shown in orange, versus gold’s price action, which is shown as traditional price candles. Source: TradingView
The comments come as BTC continues to trade below $90,000 and risks erasing all gains made in 2025, while gold has recorded gains of over 67% over the last year.
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